Toshiba deep in red Q3, tumble throughout this year

January 29th, 2009 - 3:47 pm ICT by Bupha Ravirot  

The Tokyo-based electronics company, Toshiba Corp unveiled Thursday, Jan 29 that itself has already sank “deeply in the red” in third quarter and most probably will suffer loss for the full year as the global economic crisis sinks sales of digital products and home appliances.

Regarding the company’s statement posted over internet, Toshiba Corp has lost 121 billion yen ($1.36 billion) for the October-December quarter, falling from 80.5 billion yen profit it booked in the same period the year before.

Toshiba also revealed that an operating loss of 158 billion yen ($1.78 billion) from a 42.1 billion yen operating profit a year earlier, with sales declining 79 percent to 1.49 trillion yen ($16.72 billion).

This tumble is said to be caused by “global financial crisis that accelerated since September.”

Slumping personal consumption such as electronic devices division, digital products and home appliances divisions and slowing housing construction hit Toshiba’s lighting division.

Toshiba is now expecting a net loss of 280 billion yen ($3.15 billion) for the current fiscal year through March, radically revising an earlier projection for a net profit of 70 billion yen.

The company also slashed its sales projection to 6.7 trillion yen ($75.3 billion) from 7.7 trillion yen.

Toshiba’s financial results are based on U.S.

Related Stories

Tags: , , , , , , , , , , , , , , , , , ,

Posted in Business |